Financial and investment stewardship
Fairfield County’s Community Foundation is the third largest community foundation in Connecticut with total assets of $222 million as of June 30, 2018. Fairfield County’s Community Foundation merged with the Greater Bridgeport Area Foundation in 2008. Our combined history includes over $220 million in grantmaking to nonprofits in Fairfield County and beyond.
For the fiscal ended June 30, 2018, investment performance increased by 10.6% net of fees. The Foundation’s endowment portfolio outperformed our policy benchmark by 1.4%, and was ranked in the top decile of foundations and endowments in our peer group.
The Community Foundation engages NEPC (New England Pension Consultants) to provide independent investment consulting advice to the Investment Committee, monitor investments and make recommendations for changes. Our long-term investment pool is diversified across equities, fixed income, opportunistic, hedged and private investments to provide strong investment results during positive and negative market periods. Investment portfolio returns over the past 10 years have exceeded our policy benchmarks by .9%.
- Investment Performance and Asset Allocation Summary, June, 2018 [pdf]¨
- Investment Performance and Asset Allocation Summary, December, 2017 [pdf]
- Investment Performance and Asset Allocation Summary, December 2016 [pdf]
- Investment Performance and Asset Allocation Summary, December 2015 [pdf]
Each fund established at the Community Foundation reflects a donor’s trust in our ability to invest resources wisely.
The Investment Committee is responsible for determining the broad allocation of Community Foundation assets among various asset classes, the design of the investment structure for each asset class, the retention of investment managers and other professionals, and the monitoring of investment results.
Investment Committee Members
- John Bailey, Chair, Spruce Private Investors
- Kieran Cavanna, Old Farm Partners
- Steve Edwards, CFA, Morgan Stanley
- Charles W.K. Haberstroh, CastleKeep Investment Advisors
- David Harmston, Albourne America
- Craig Henrich, KSL Capital Partners
- Schuyler Heuer, Goldman Sachs
- John Suhler, Veronis Suhler Stevenson
When you establish a fund at the Community Foundation, you may elect from the following investment options:
- The Long Term Investment Pool
- The Money Market Pool
- The Balanced Index Fund
- The Investment Advisor Program
- Investment Policy & Guidelines Summary
- Charitable Funds Investment Options
- Spending Policy for Fiscal 2018
- Investment Advisor Program
The Community Foundation employs financial controls across our financial and accounting operations to ensure that contributed funds are managed and protected. A Finance Committee of the board oversees Foundation budgets, investment activities and financial planning.
Finance Committee Members:
- Ed Ford, Chair
- Bob Eydt
- Clay Fowler
- Jennifer Hill
- Don Kendall
- Maya Tichio
The Community Foundation’s Audit Committee oversees the annual audit and tax filings, monitors accounting policies and practices, and oversees risk management for the Foundation. The chair of the audit committee oversees our Whistleblower Policy.
Audit Committee Members
- Bob Eydt, Chair
- Ralph DePanfilis, CPA
- Ed Ford
- Michelle Garvey